Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sets New 12-Month High – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high during trading on Monday . The stock traded as high as $231.00 and last traded at $231.9820, with a volume of 241248 shares changing hands. The stock had previously closed at $213.00.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 9.2%

The stock’s fifty day moving average is $170.28 and its two-hundred day moving average is $131.99. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the company. IMC Chicago LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $10,013,000. Client First Investment Management LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $7,719,000. Simplex Trading LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $1,004,000. Qube Research & Technologies Ltd bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $990,000. Finally, UBS Group AG raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% in the 3rd quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock valued at $1,504,000 after acquiring an additional 8,738 shares during the period.

About Direxion Daily Gold Miners Index Bull 2x Shares

The Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) is an exchange-traded fund that is based on the NYSE Arca Gold Miners (NTR) index. The fund provides 2x leveraged exposure to a market-cap-weighted index of global gold and silver mining firms. NUGT was launched on Dec 8, 2010 and is managed by Direxion.